I am curious to understand if it is possible to use the same HC-05 and have its output physically go to 2 separate stand alone arduinos
If the data is one way only then yes, but I think it would involve some sort of acknowledgment signal and you can't have two Arduinos doing that. It would be better to receive all the data with one Arduino and have it pass on half that to the other Arduino.
However, two Arduinos is seldom the answer. As you have a Max7219 in the mix that is doing the grunt work in regard to multiplexing so their is nothing much holding you back from using just one. Are you chaining the Max7219s?